NOT LISTED FOR SALE
9 Beds
7 Baths
8,009 Sq Ft
1961 Built

Last Sold March 19, 2018

Last sale price $4,450,000 $556 Per Sq Ft

85 Days on Market

Highlights

  • Ocean View
  • Naples Bayside Academy Rated A
  • Laundry Room

About This Home

As of March 2018

The Seaside Walk Apartments is an oceanfront six unit apartment community consisting of four two-bedroom units, one three-bedroom unit and one four-bedroom unit. This property presents investors with a rare buying opportunity to acquire a value add asset with rental upside potential. The asset is located in the Long Beach Peninsula which is one of Long Beach’s highly-sought after neighborhoods. The Peninsula boasts the best beach-front and waterfront properties in Long Beach and each unit has incredible ocean, Catalina and Downtown Long beach views. The area also features easy access to both the ocean and the bay, with great locations for paddle-boarding, kite-surfing, fishing, and many other beach activities.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 12/14/2017

Keller Williams Realty Downey

Co-Listed By

Todd Hawke

Keller Williams Realty Downey License #01376219

Last Buyer's Agent

Sara Tsai

Sara Hui Lee Tsai License #01888886

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 3,766 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 6 Car Garage

Property Views

  • Ocean
  • Bay

Home Design

  • Property Attached

Interior Spaces

  • 8,009 Sq Ft Home
  • Decorative Fireplace
  • Living Room with Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 7 Bathrooms

Utilities

  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 5
  • Tax Tract Number 5775
  • Assessor Parcel Number 7245024020

Community Details

Building Details

  • 5 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 6 Separate Water Meters
  • Electric Expense $1,216
  • Gardener Expense $900
  • Insurance Expense $3,800
  • Maintenance Expense $6,000
  • Other Expense $150
  • Professional Management Expense $8,148
  • Supplies Expense $6,000
  • Trash Expense $1,216
  • Water Sewer Expense $1,216
  • New Taxes Expense $62,051
  • Operating Expense $85,199
  • Gross Income $203,700
  • Net Operating Income $118,501

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

3,766 Sq Ft Lot

Parking

6

Listing Details

  • Professional Management Expense: 8148.00
  • Property Attached: Yes
  • Subdivision Name Other: Naples (NA)
  • Supplies Expense: 6000.00
  • View: Yes
  • Water Sewer Expenses: 1216.00
  • Zoning: LBPD3
  • Property Type: Residential Income
  • Gardener Expense: 900.00
  • Parcel Number: 7245024020
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 2+ Common Walls
  • Fireplace Features: Living Room, Decorative
  • Price Per Square Foot: 555.62

Exterior Features

  • View: Bay, Ocean
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Unknown
  • Trash Expense: 1216.00
  • Water Source: Other

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 3766.00

Multi Family

  • Electric Expense: 1216.00
  • Gross Income: 203700.00
  • Gross Operating Income: 202547.00
  • Gross Scheduled Income: 210000.00
  • Insurance Expense: 3800.00
  • Maintenance Expense: 6000.00
  • Net Operating Income: 118501.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6
  • Number Of Units Leased: 5
  • Number Of Units Total: 6
  • Operating Expense: 85199.00
  • Other Expense: 150.00
  • Other Expense Description: Misc
  • Rent Control: No
  • Total Actual Rent: 17401.00
  • Total Expenses: 85199.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 62051.00
  • Tax Census Tract: 5775.04
  • Tax Lot: 5
  • Tax Tract Number: 5775
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/19/2018 03/19/18 Sold $4,450,000 -3.2% $556 / Sq Ft
03/09/2018 03/09/18 Pending -- -- --
02/15/2018 02/15/18 Price Changed $4,595,000 -8.0% $574 / Sq Ft
12/14/2017 12/14/17 For Sale $4,995,000 -- $624 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $62,977 $5,063,335 $3,925,508 $1,137,827
2024 $62,977 $4,964,055 $3,848,538 $1,115,517
2023 $61,936 $4,866,722 $3,773,077 $1,093,645
2022 $58,075 $4,771,297 $3,699,096 $1,072,201
2021 $56,962 $4,677,743 $3,626,565 $1,051,178
2019 $56,146 $4,539,200 $3,519,000 $1,020,200
2018 $5,876 $399,437 $206,191 $193,246
2016 $5,355 $383,736 $198,186 $185,550
2015 $5,162 $377,973 $195,210 $182,763
2014 $5,156 $370,570 $191,387 $179,183
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW17274936

California Regional Multiple Listing Service (CRMLS)
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